Pirates bidder Kevin McClatchy spent most of yesterday in
discussion with team officials in an effort to complete the deal
to purchase the club. But sources told the WASHINGTON POST that
McClatchy has asked for an extension to "prove that he has the
cash" to buy the club. Mark Maske reports that McClatchy was
told that to get an extension of four weeks he would have to put
down a $3M nonrefundable deposit. McClathcy reportedly will
decide today whether to pay the deposit and proceed. Maske also
reports that the Pirates may consider a new offer today from DC
attorney Bart Fisher, who said he would keep the club in
Pittsburgh "at least temporarily." Fisher apparently sent a
letter to the Pirates' investment bankers yesterday and renewed
his offer to buy the team, with several new investors. Fisher
said his new offer expires at the end of business today. William
Collins, head of Virginia Baseball, who wants to move the club to
the DC-area, has said he will wait until the franchise makes it
known it is accepting offers from would-be relocators (WASHINGTON
POST, 9/26). Fisher's new group reportedly has $50M in equity
(WASHINGTON TIMES, 9/26).
